GIFT Nifty indicates a positive start

GIFT Nifty:

The GIFT Nifty January 2025 futures contract is currently up 16 points, indicating a positive start for the Nifty 50.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 1,323.29 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,544.64 crore in the Indian equity market on 27 December 2024, provisional data showed.

According to NSDL data, FPIs have sold shares worth over Rs 656.74 crore (so far) in the secondary market during December 2024. This follows their sale of shares worth Rs 39315.78 crore in November 2024.

Global Markets:

Asian stocks traded mixed in early trading Monday, following a decline in US equities on Friday, primarily driven by losses in technology shares.

 

US stocks closed lower on Friday as investors booked profits across sectors, with technology stocks leading the selloff. This decline was attributed to a rise in Treasury yields, which increases borrowing costs for companies, potentially impacting spending on innovation and expansion, and squeezing profit margins.

The Dow Jones Industrial Average declined 0.77%, the S&P 500 dropped 1.11%, and the Nasdaq Composite ended 1.49% lower. Apple Inc., which had reached a record high the previous day after an upgrade from Wedbush, fell 1.3%. Tesla Inc. stock declined 5%, while NVIDIA Corporation, a market darling, edged 2.2% lower. Alphabet Inc. also fell over 1%, contributing to a broader tech sell-off.

Domestic Market:

The domestic equity indices ended with minor gains on Friday. The Nifty settled above the 23,800 level. Shares in the pharma, auto, and healthcare sectors advanced, while those in the metal, PSU banks, and oil & gas sectors declined. The S&P BSE Sensex advanced 226.59 points or 0.29% to 78,699.07. The Nifty 50 index rose 63.20 points or 0.27% to 23,813.40.

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